Belluscura PLC on Tuesday said it received approval from the Singapore Health Sciences Authority to distribute its X-PLOR portable oxygen concentrator under its licensing agreement with InnoMax Medical Device Technology Ltd.
Singapore is part of the licensed territory in its exclusive agreement signed with Innomax.
The London-headquartered medical device developer entered into an exclusive licence, marketing and distribution agreement with Chinese manufacturing partner InnoMax back in August.
This means Innomax now has exclusive rights to manufacture and distribute Belluscura’s X-Plor portable oxygen concentrator in China, Hong Kong, Macau and Singapore.
According to Belluscura, approximately 5.9% of adults in Singapore above 40 have chronic obstructive pulmonary disease.
Chief Executive Officer Bob Rauker said: ‘We are very excited to receive this approval, enabling us to launch sales in Singapore, as a first market in the Association of Southeast Asian Nations] region. With our arrangement with InnoMax in place, we are confident that we can now deliver on the significant potential for our products in this large and growing region.’
Shares in Belluscura rose 2.4% to 21.00 pence each in London on Tuesday morning.
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